Mobile, Ala. — Wool Finance Partners has arranged a $7.9 million construction loan for the development of a 101,000-square-foot, Publix-anchored shopping center in Mobile.
The shopping center is a joint venture between MAB American Retail Partners LLC and Inland Retail Centers LLC. Publix will occupy a freestanding, 39,000-square-foot store within the development. Matt Lebenson of Wool Finance arranged the two-year construction loan through an unnamed regional bank. The loan features a 55 percent loan-to-cost ratio and an extension option for the joint venture.